But all is not well in China, where cash crunch concerns are troubling investors.

China's benchmark index, the Shanghai Composite, fell for a ninth consecutive day Friday, dropping 2% to a four-month low even after an emergency cash injection by the country's central bank.

The People's Bank of China made the announcement on Weibo -- a micro-blog site similar to Twitter(TWTR) -- but the move largely failed to quell investor fears that cash was in short supply in the system, in an echo of a liquidity crunch earlier in the year.

The Shanghai Composite has fallen by just over 6% this month and is down by 8% since the start of the year.

Gold extended its decline Friday, a day after dropping to a three-year low. Prices have dropped 30% this year, the worst annual performance for the precious metal in decades.